All Forum Posts by: Diamond Bellamy

Thank you so much for the clarification. I guess its back to the drawing board. 

Hello everyone, I am a college student just starting out and think I found the perfect strategy to get out of my current living situation and buy my first investment property. I've been reading up on FHA 203k loans and from my understanding with this loan you have to live in the home for at least 1 year, provide a down payment of 3.5%, and the cost of any needed repairs is funded by the bank. I've found a rental property short sale lead where I could live in and rent the extra room out in one unit and rent out the other unit all together. After running the numbers it appears to yield an amazing ROI. My only road block so far is deciding whether or not if it is better to find a partner or use a hard money lender to fund the down payment and closing cost. So my question is for this type of deal which is better and how should I pitch it? Any advice/feedback would be greatly appreciated thanks!

@Daniel Haberkost Yes, actually I'm looking into rental properties either single family or multifamilies. I'm working on beefing up my knowledge on how to analyze deals to make sure there ROI is acceptable and on how strategies to fund the deal.

@Anthoney Hanks Thanks for the advice 😊 currently doing both and they are helping a great deal

Hello BP Family! It's been a year since my older sister told me to read Robert Kiyosaki's Rich Dad Poor Dad which helped me discover the world of real estate investing. Now I am hooked. After some research and debating whether or not I can do this, I have finally decided to take the plunge. Here's to the road ahead towards financial freedom!🍻🥂

Hello, I recently decide to attempt at building wealth through real estate investing and I am having difficulty understanding who determines the closing cost. Is it the seller, the title company, or someone else entirely. Also, when the closing cost is determined who does the money go to. Does the money go to the seller directly or the title company who in turn pays the seller or does the money go to the title company period. I would greatly appreciate any information on this topic. Thank You.